The shares of India’s largest private thermal power producer firm gained 1.8 percent to ₹737.85 per share after the company and its subsidiary Mahan Energen Ltd entered into a 20-year power purchase agreement for 500 MW with Reliance Industries Ltd.
At 11:15 a.m., Adani Power Ltd. shares were trading at ₹719.50 per share, down 0.81 percent from the previous close price on the National Stock Exchange. The company has a market capitalization of ₹2,77,699 crore.
What News:
Mahan Energen Limited (MEL), a wholly-owned subsidiary of Adani Power Limited had entered into a 20-year long-term Power Purchase Agreement (PPA) for 500 MW with Reliance Industries Limited (RIL).
One 600 MW unit of MEL’s Mahan thermal power plant, part of its total 2800 MW capacity, was designated as the Captive Unit. To benefit from this policy, Reliance Industries must hold a 26% stake in the Captive Unit.
Following the conditions in the Investment Agreement dated March 27, 2024, Reliance Industries subscribed to and MEL issued 50,000,000 “Class B” equity shares at Rs. 10 each, granting Reliance a 26% ownership stake in the Captive Unit.
About the company:
Adani Power Ltd. is a thermal power producer in India with a significant power generation capacity of approximately 12,450 MW across various operational power plants in states like Gujarat, Maharashtra, Rajasthan, Karnataka, Chhattisgarh, Madhya Pradesh, and Jharkhand.
Adani Power shares have gained 33 percent in the last six months and 197 percent in a year.
Financials: Annually, the company experienced a significant 30 percent increase in revenue, rising from ₹10,242 crore in Q4FY23 to ₹13,364 crore in Q4FY24. However, during this period, net profit saw a sharp decline of 48 percent, dropping from ₹5,242 crore to ₹2,737 crore.
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Adani Ports & Special Economic Zone Ltd
Adani Ports & Special Economic Zone shares gained 1.2% to ₹1,494.40 per share after the company secured a 30-year concession and a Letter of Intent (LOI) for the development, operation, and maintenance of Berth No. 13 at Deendayal Port.
What News:
Adani Ports & Special Economic Zone has received a Letter of Intent (LOI) for the development, operation, and maintenance of Berth No. 13 at Deendayal Port. The LOI, awarded through a competitive bidding process, grants the company a 30-year concession period.
The company will manage the berth under the DBFOT (Design, Build, Finance, Operate, and Transfer) model, handling multipurpose clean cargo, including container cargo. Berth No. 13, which is 300 meters long and has an annual capacity of 5.7 MMT, is expected to be commissioned during FY2026-27.
About the company:
Adani Ports & Special Economic Zone is in the business of development, operations, and maintenance of port infrastructure and is also linked to a multi-product Special Economic Zone (SEZ) and related infrastructure contiguous.
At 11:15 a.m., Adani Ports & Special Economic Zone Ltd shares were trading at ₹1,475 per share, down 0.20 percent from the previous close price on the National Stock Exchange.
Financials:
The company’s revenue witnessed a 20% annual increase, climbing from ₹ 5,797 crore in Q4 FY23 to ₹ 6,896 crore in Q4 FY24. Simultaneously, net profit surged by 77%, from ₹ 1,139 crore to ₹ 2,015 crore.
Over the past six months, the company’s shares have yielded returns of 21%, and over the course of a year, they’ve soared by 104%. The company has a total market capitalization of ₹3,18,620 crores.
Written by Omkar Chitnis
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